A true picture of the alternative protein market

In 2020 our client, a globally leading ingredients player, had developed a business strategy for its Alternative Protein division (Alt Pro). However, post Covid-19 pandemic, the Alt Pro space was evolving differently. This triggered considerable debate regarding the market’s long-term potential. The client turned to our team for a real-time evaluation of the sector and identifying high growth opportunities.

2 Minutes Food 01/05/2024


Understand the real opportunity within the Alt Pro sector

The project had three key tasks:

  • Commercial landscaping and market sizing
  • Analysis of recent product innovation developments
  • How the client`s manufacturing footprint could leverage value


An approach with four key pillars, each with specific objectives

To fuel our insights we conducted over 140 hours of interviews with 40+ industry experts and SMEs.

1. Commercial landscape and market sizing

Analyze historical and current industry performance. Understand key consumer demand drivers. Forecast Alt Pro’s long-term viability, substantiated with inputs from SMEs.

2. Regional drivers and differentiation

Investigate regional factors for success. Identify each region’s value propositions, competitive intensity, and industry infrastructure.

3. Product innovation and technology

Uncover emerging product trends and tech innovations that shape the Alt Pro offerings. Spotlight challenges, pitfalls, and areas to focus on.

4. Manufacturing leverage

Evaluate revenue generation potential from existing manufacturing capacities. Analyze the short vs. long-term benefits and challenges when collaborating with emerging players.


Our market projection challenged the views of leading market analysts

We also delivered :

  • An easy-to-use dynamic market sizing model that enabled granular analysis at category and channel level
  • A detailed signpost exercise and template for mapping competencies gaps in technology and product offering
  • A toolkit that helped our client locate the most attractive Alt Pro segments to invest in

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